Oil Companies Announce Green Fund–But There’s a Catch
When it comes to oil company citizenship, this is probably about as good as it gets. It’s a $1 billion investment in cleaning up some of the noxious byproducts of fossil fuel consumption, with a refusal to spend a nickel on the development of clean energy.
Hey, as we’ve seen so often over the past few decades, it could have been a heck of a lot worse.
Craig,
Over the last 30 years Western Oil companies, including Exxon, have spent hundreds of $ billions, even $ trillions, on alternate energy research. Most of the projects ended in failure as the technologies failed the test of commercialization.
Some, like Chevron’s Geo-Thermal projects are continuing, despite having been long abandoned by governments.
A fund to aid research into eliminating the more harmful effects of oil products is a good thing, and shouldn’t be an excuse for the usual collection of oil haters to demand impractical reductions of oil usage supported by long discredited rhetoric.